A luxury boutique hotel transformed from a former C-listed Victorian schoolhouse is looking for its first hospitality owner, probably from June this year.

The Canongate in Edinburgh’s New Waverley regeneration project is on the market for £8m, and will feature 21 aparthotel bedrooms, and two floors of commercial units.

Owners Edinburgh Castle Ltd has forecast operating rooms annual revenue at £1.4million, representing a potential yield of 12.2% after operational costs.

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